In a bid to cut the huge amount of money spent on the importation of milk and dairy products in the country, the Federal Government has inaugurated a stakeholdersa�� committee for the development of policy framework to boost the dairy industry
The Minister of State for Industry, Trade and Investment, Aisha Abubakar who inaugurated the committee also disclosed that Nigeria spends about $1.3 billion yearly on the importation of dairy products such as milk, yogurt, cheese and other milk derivatives,
Abubakar who also noted that domestic consumption of dairy products was bound to increase further with Nigeriaa��s growing population, explained that the committee was inaugurated as part of effort to diversify the economy and increase local production in sectors where Nigeria has comparative and competitive advantages.
She expressed confidence in the potentials of the dairy industry to create of millions of jobs and generate N300 billion monthly for the country.
She, however, lamented that 85 per cent of Nigeriaa��s 19.5 million cattle, are owned and managed by small holder, subsistent and nomadic herdsmen, leaving the remaining 15 per cent in the hands of medium and large scale farmers in managed pastures.
Members of the committee include representatives of the Federal Ministry of Industry, Trade and Investment; Federal Ministry of Agriculture and Rural Development; Raw Materials, Research and Development Council and the National Animal Production Research Institute.
The objectives of the policy framework are to attract and achieve local participation in dairy business; ensure local content development of dairy; encourage joint venture opportunities across strategic segments of the dairy business and provide financial relief to boost local growth through the participation of women and youths in the sector.